AI euphoria: reality check hits the software market
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For a brief moment, Nvidia’s results seemed to steady the nerves. Then the doubts crept back in. A sharp sell-off in tech dragged US markets lower, software stocks took the brunt of it, and investors rushed back to old comforts like gold and Treasuries. The past 24 hours have been a neat snapshot of the mood around AI right now: excitable, anxious and deeply unsure about whether today’s eye-watering capital expenditure will actually translate into tomorrow’s profits.
In this episode of Market Focus Weekly, a weekly podcast by The Business Times, Howie Lim takes stock of that shift with Oriano Lizza, sales trader at CMC Markets. The conversation moves quickly from fears of a so-called “software-mageddon” to a harder question markets are now asking out loud: has AI optimism run ahead of fundamentals? As software business models wobble and valuations look stretched, the episode explores whether this is a healthy reset, or the start of something more uncomfortable for investors who piled in late.
Why listen
- AI euphoria meets valuation reality Why the software sell-off may be less about panic and more about repricing expectations.
- What Nvidia didn’t fix Strong chip earnings can’t settle doubts about who ultimately captures AI profits.
- Asia running its own race Why Singapore and parts of the region are proving more resilient than expected.
- Japan’s uneasy inflation moment How fiscal ambition and a weaker yen could change consumer behaviour.
- Gold at US$6,300? What it would really take for precious metals to make that kind of leap.
The episode also asks what actually matters for portfolios when markets feel this jumpy. For investors trying to separate signals from hype in the AI trade, this is a timely reality check that is more useful than panic. Listen now.
Listen to more episodes at bt.sg/podcasts. Got feedback? Email us at btpodcasts@sph.com.sg.
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Written and hosted by: Howie Lim (howielim@sph.com.sg)
With Oriano Lizza, sales trader at CMC Markets
Edited by: Howie Lim & Claressa Monteiro
Produced by: Howie Lim & Chai Pei Chieh
A podcast by BT Podcasts, The Business Times, SPH Media
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